How do offshore payment gateways help high-risk businesses nullify safety challenges?
Not several but with many challenges and threats, the high-risk businesses operate in a risky market. The uncertain factors on the part of the economy, consumer behavior, transaction security, etc. keep the business owners busy in mind-boggling for solutions. Online casinos, forex trading companies, adult entertainment entities, and every risky business need a platform for safe money transactions.
Offshore payment gateways have a lot to do on this aspect, as they are destined to provide safer payment solutions. With multiple features, they provide a secured atmosphere to help the customers pay to a business. Also, they help merchants to refund customer’s money when required. Let us all understand in detail how offshore payment gateways work and help merchants survive in the market.
Offshore payment gateways connect with acquiring banks through merchant accounts
We all know that high-risk business owners cannot get a business account in a traditional bank to receive money from customers. They need a bank that is ready to work with companies from high-risk industries.
An offshore payment gateway usually has a vast network of acquiring banks that provide merchant accounts to the businesses. Merchant accounts are safe due to their strong network and security measures.
The payment gateways do not want to take any threat. They connect the merchant with such a financial institution in some other country to help a business operate smoothly. The company owners receive payments in that account and also receive money in their business account that exists in a traditional bank.
The payment gateways also help the high-risk companies to negotiate on per transaction charges with the acquirers. Also, the offshore payment processors have the experience and expertise to suggest better ways to the merchants that help them qualify for a merchant account.
It is only due to assistance on this part that the merchants can imagine surviving in the market despite multiple threats. Thanks to the new technology and globalized networks of the offshore payment gateways that work efficiently for the merchants and their customers.
3D Secure protocol gives protection from fraudsters and chargebacks
Chargeback and fraud are two prime threats that a high-risk business has to interact with now and then. In the absence of a due arrangement to handle these issues, a business owner can even lose his business. The reason is that these challenges are recurring and also cause a big loss to the finances and the goodwill of a merchant.
The offshore payment gateways are backed-up by the 3D secure protocol which ensures the safety of money transactions between the customer and the merchant. This technology does not let a customer complete the payment unless he enters the authentication code sent to his mobile/device.
It helps reduce chargebacks because the merchant can claim that the customer enters the security code. It is about making the end-users responsible for their behavior to make them realize that they cannot just raise any charge-back without reason. We know that friendly fraud is also a common issue with merchants. Similarly, 3D technology makes it difficult for fraudsters and hackers to break the security network.
Reach to the global market despite high-volume transactions
Offshore payment gateways have a vast reach to many countries, as they also work in close connection with international acquiring banks. In this manner, it is simple and possible for a merchant account holder to reach new market locations across the globe.
Also, high-risk businesses normally have high-volume money transactions on daily basis. Thanks to offshore payment processors that ensure safe money transactions in millions of dollars and Ponds and in every currency. EskayPay is a name that a merchant can consider for offshore payment processing needs. We have the tools and network to connect commercial entities to the world.
With an increase in the network in the global market, a high-risk merchant account provider company can also increase its chances to earn profit. With no backing from the contemporary banking system, it is a big favor to the merchants with risky business types.
Available for both onshore and offshore companies
That is true. An offshore payment gateway is not biased on location. It has nothing to do with the native location of a merchant. It is a service nothing more than that and does not have any geographical constraint. A payment gateway company serves all the businesses whether they are from its own country or other countries.
The terms and conditions are the same and also there is no reduction in service quality. For high-risk businesses, it really matters a lot. With a payment gateway company in the same country, they can save a few pennies on international tax, fees, etc.
High-risk companies have to look for payment gateways as an alternative to their traditional banks. In that case, it is convenient if they get to talk to the payment gateway companies of their own country in their language. However, we should not forget that an offshore payment gateway serves the merchants from the same as well as the other country.
How EskayPay offers a good experience as an offshore payment gateway?
EskayPay has every solution available required by a merchant on the part of payment processing. A team of experts and smart 3D secured tools create a security circle around the business to protect the merchants as well as customers.
- No lengthy contract is required to connect to us. We also have short-term services with no compromise in quality. Our customer care staff can guide the merchants on this aspect, or merchants can leave an online query to receive a call in a short while.
- We also ensure safer money transfer from the merchant account (with acquirer) to the business accounts (traditional account) of a business for fund withdrawal. We never leave the merchants until the money reaches them.
- Our network is strong due to PCI-DSS compliance that gives a guarantee of security of each penny that travels through our network. The existing satisfied customers authenticate the quality of our services.
- Merchants never get annoying calls from our side without a requirement. The dedicated account managers assigned to every client give personalized attention to every merchant. Due to round-the-clock presence, we immediately solve technical and operational issues.
Conclusion
Offshore payment gateways have enhanced their system a lot due to the considerable demand for online payments in recent years. All sorts of businesses are shifting to their online versions among the recurring coronavirus waves. In such a situation, payment gateways bear a serious and big responsibility to take care of the money and goodwill of the high-risk merchants. But with an offshore payment gateway, a merchant is always in safe hands.
Others Pages : Global Merchant Account, Credit Card Processing, Merchant Account for Gaming